Turmeric On NCDEX Settled Up By 0.62% At 7474

Turmeric on NCDEX settled up by 0.62% at 7474 on short covering after prices dropped amid good health of new season crop in south Indian states. Further, lack of upcountry demand too fuelled the downtrend. Turmeric acreage in Telangana as on 17 Aug was up 15.4 % at 45,000 hectares as compared to 39,000 hectares last year. Sowing of turmeric is over in 93 per cent of normal area and up by 110 % of normal sowing area. As per market sources, production year 2015-16 started with carry-forward stocks of 1.4 lakh tonnes compared to 2.1 lakh tonnes in 2014-15.